Bitcoin Forum

The usage of Bitcoin ATMs and vending machines could increase among marijuana dispensaries, predicts Green Rush Review.

In its recent promotional press release, the medical marijuana news website blamed the absence of proper banking infrastructure as one of the major reasons why cannabis businesses would move towards other bankable options such as Bitcoin.

Read More: http://www.newsbtc.com/2015/04/17/report-predicts-boom-in-bitcoin-adoption-by-marijuana-dispensaries/

Once MJ is legal, people won't need to hide the fact they are purchasing it.   :-\

They will still want to hide it :P

Just ask porn buyers!

I hope they're right. Getting the booming cannabis industry on board would be huge.


Not necessarily. Porn is legal but some people don't want their credit card companies or everyone else knowing about their purchase of it. Some payment processors/credit cards may not even allow you to purchase it and if they don't even better news for bitcoin. I think this sort of usage could be a massive boost to adoption for those who are financially censored etc.

Nobody who buys marijuana gives a shit about who knows that they buy it, even in the states where it isn't legal

You really think the evangelical, anti-crime and national security GOP folk are really going to end the War On Drugs if they gain power in 2016?

I don't know. A few months ago, Bitpay actually turned down requests from some of the Colorado Marijuana sellers to process their payments. Coinbase is also not that excited about processing the weed earnings.

Are we that desperate for adoption of Bitcoin? Silkroad has done enough damage, and now we raving about pot being bought with Bitcoin?

The medical benefits of using Marijuana definitely does not exceed the negative side of it ...{imo}

I can hear the press .... "Bitcoin are only for a bunch of pot smoking, liberal minded hippies"  ::)

What is the problem with pot being bought for BTC, if the trade is legal? We are not talking about illegal weed sales here. We are talking about legalized Marijuana sales.

Well a lot of banks wont work with them either. I think they're likely just worried about the possible legal ramifications seeing as it's still illegal at a federal level, though I'm sure if processors like bitpay wont deal with them there's a gap in the market for one that will. They could also just accept bitcoin directly and exchange it themselves at whatever point.

That or CANN will boom.  They are claiming to be giving away 1 gram per coin.

Absolutely not, Reagan started the war on drugs and I'm pretty sure the GOP would carry on the same regardless of all the evidence proving it's been a huge failure.
The only beneficaries of the drug 'war' are the for-profit prisons and the corps who take advantage of a cheap labour force.

As long as it is not 100% legal especially at the Federal level, banks will be pressured to not provide credit card merchant services to dispensaries even though these dispensaries are legit at the state level. This is where Bitcoin will step in. It may take some time for cannabis to be legalized federally so there is plenty of time to take advantage of this "grey market".

Isn't there a danger that it will never be legalized at federal level even if most states finally allow it (though I'm guessing there will be a few rouge states who lag behind and actively fight for it to remain illegal)? I just cannot see the old fogies voting to legalize it. What's in it for them? They can still collect taxes from the state tax can't they? Sadly it seems they benefit more from it being illegal to be honest.